In the not-too-distant past, an “anonymous” shopping trip was the accepted norm, with consumers thinking nothing of receiving the same offers and types of interaction as every other shopper in the store. The tides, however, have turned. Today’s consumer wants a personalized shopping experience; in fact, a study conducted by MyBuys revealed 48 percent of consumers purchase more from merchants that deliver such an experience than from merchants that don’t.
Here are four ways small and medium-size retailers (SMBs) can create a personalized shopping experience for each of their customers.
1. Exclusive, personalized in-store offers.
Findings of a study by Google and Ipsos demonstrate the value of using exclusive, personalized offers to deliver a personalized shopping experience. Of consumers who participated in the study, 85 percent said they would be more inclined to patronize stores that offer personalized coupons and targeted deals in-store. You can use your point of sale (POS) system to gather information about customers’ preferences and create personalized in-store offers. For example, if a report generated by your POS system indicates that certain customers always purchase a particular brand of apparel, you can devise a special promotion around that brand and limit it to those customers.
2. In-store kiosks.
In-store kiosks can contribute to a personalized shopping experience. They enable customers to print out product information they can use when making buying decisions and generate shopping lists based on their own needs and preferences. Kiosks also allow shoppers to check and compare prices, access coupon offers, and order inventory that’s out of stock at the current location.
3. Customized recommendations.
Allowing customers to receive custom-tailored recommendations from friendly, knowledgeable store associates is a cornerstone of providing a personalized shopping experience. Statistics underscore its importance: More than half (64 percent) of shoppers surveyed by Google and Ipsos said they prefer to shop in stores where they can receive recommendations of specific items to purchase. As discussed above, you can harness your POS system to find the information needed to formulate these recommendations — for instance, if you own an apparel store or stores, data from your POS system can tell you which brands or lines a particular customer favors.
4. Multiple communication options.
Delivering a personalized shopping experience necessitates communicating with customers through the channel in which they’re most comfortable. You’ll need to keep multiple lines of communication options open to accommodate various preferences. Some consumers — especially millennials — prefer to receive information about special offers via text message rather than email, and will opt in to do so. These customers are also very tuned in to social media and want to interact with retailers through such channels as Facebook and Twitter. Other consumers, particularly baby boomers, may prefer to learn about promotions and deals through regular mail or email.
As competition among retailers becomes increasingly stiff and consumers grow ever more demanding, SMBs must go the extra mile to maintain or increase their market share. Providing a personalized shopping experience to customers will go a long way toward achieving this goal.
Selecting the right POS software and it’s compatible hardware will ensure you’re able to implement the above four strategies. For help getting started, check out our free POS Software Buyer’s Guide.
